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Squirrel is an app-based budgeting account that’s useful for those that struggle to make their money stretch to payday.

It separates out your bill money from your spending money, so you can set clear savings goals and budget effectively.

You just need to add your monthly expenses and savings goals. The app will then release money for bills as they are due and give you spending money each week so you don’t run out by the end of the month.

Saving and investing apps

It works by rounding up whatever you spend on everyday purchases to the nearest pound, and investing the change into tracker funds.

You can choose your level of risk; either cautious, balanced or adventurous.

However, there are fees to consider. The app charges a £1 monthly subscription fee (although the first three months are free) and an annual platform fee of 0.45% of the value of your investment per year.

Also, it’s important to remember that the money you invest is at risk, meaning you could lose what you put in, and the value of your investment can go down as well as up.

Digital banks Revolut, Starling Bank and Monzo offer a similar feature for savers. They round up every transaction and put the difference in a separate savings account.

Unlike Moneybox, your money won’t be at risk. But while Starling Bank pays interest of 0.5%, you won’t earn you a return with Revolut or Monzo.

The Quidco app allows you to earn cashback when you shop, either on your mobile or in-store.

To earn cashback online, you just need to check if the retailer is offering cashback using the app and complete your transaction with the tracked link.

To earn cashback in-store, you’re asked to link one or more of your debit cards to your Quidco account, activate an offer you plan to use, and then make your purchase. Cashback will then be paid into your account.

The offers update daily and you can keep track of the money you earn within the app.

If earning cash while shopping appeals to you, it may also be worth looking at TopCashback.

Please note that the information in this article is for information purposes only and does not constitute advice. Please refer to the particular terms & conditions of a provider before committing to any financial products.